Jacobs Automation, LLC has received $150,000 from Kentucky’s High-Tech Investment Pool. The funds will go toward development of the company’s PackTrack product, which is an upgrade on the chain, belt and gear motors in traditional package movers. PackTrack relies on a direct-drive linear motor that is tracked by customized software. The state funds will pay for patent expenses and for building two PackTrack demo units.
Jacobs Automation is moving from Norwood to Campbell County, and plans to create at least nine full-time jobs that pay an average salary of $65,000 not including benefits, according to the state Economic Development Cabinet.
Jacobs in a client of the state’s
Northern Kentucky Innovation and Commercialization Center. The state High-Tech Investment Pool promotes technology-based and research driven companies in targeted regions of the state.
“This illustrates that our economic incentive programs are very competitive and can support existing Kentucky businesses while also attracting new companies,” said Larry Hayes, interim secretary of the Cabinet for Economic Development.
Writer: Feoshia Henderson
Source: Kentucky Cabinet for Economic Development
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.